Gabriel Kahn, a professor in the University of Southern California's media economics and entrepreneurship program, said the Washington Times' entry into TV represents a form of "platform creep" common to other media companies that starts with print and moves to radio, TV and the Internet, via computer screens, mobile phones, tablets and other devices.

While the profit may drive some efforts, that's not necessarily the goal, he said.

"Rich people are always attracted to media properties and not always for a direct financial return on investment," Kuhn said.

A current example, he said, is the proposal by Eli Broad and other Los Angeles-area business leaders to acquire the Los Angeles Times and turn it into a nonprofit publication.